U.S. indices were up across the board Tuesday afternoon as the market built on the strong start to the week in yesterday's session. The S&P 500 and Nasdaq were both up 1% while the Dow Jones Industrial Average rose 1.1%.
Markets were helped by a rally in crude prices midday after West Texas crude futures contracts spent most of the morning in negative territory. The turnaround was fueled by a supply disruption of 2.5 million barrels per day in Canada due to the ongoing wildfire that has engulfed a significant part of the country's oil sands region.
West Texas crude futures were up $0.93 to $44.37 per barrel while industry standard Brent crude futures contracts for July delivery were up $1.52 to $45.15 per barrel.
Solar City (SCTY) was the biggest loser midday Tuesday following its earnings release. The solar energy company helmed by Elon Musk was down 24.5% midday on more than three times its normal volume after reporting a loss of $2.56 per share, wider than Wall Street's $2.31 forecast. The company also provided light current-quarter guidance of a loss between $2.70 and $2.80 per share vs. $2.13 per share loss estimates.
Lumber Liquidators (LL) fell nearly 6% midday following its latest earnings release. The company posted a first-quarter loss of $32.4 million, or $1.20 per share, much wider than the $0.27 per share loss analysts were expecting. The company said it will contribute $26 million and 1 million shares to a settlement fund to resolve a class action lawsuit related to potentially hazardous products imported from China.
Shares of Trifecta Stocks holding Disney (DIS) were rising midday ahead of the release of the company's latest earnings results. Analysts polled by Thomson Reuters are expecting Disney to report earnings of $1.39 per share on revenue of $14.76 billion in revenue. Those totals are ahead of the $1.27 per share on revenue of $13.39 billion the company reported a year ago.
Finally, shares of Growth Seeker holding Amazon (AMZN) were up nearly 3% on heavy volume after the online retailer announced it is expanding its multimedia capabilities by launching its own user-video upload service, rivaling Alphabet's (GOOGL) YouTube.